SunSirs: Narrow Range Consolidation of China EVA Market Trend in the Short Term

Recently (8.20-8.25), the domestic EVA market has seen a narrow consolidation. According to the Commodity Market Analysis System of SunSirs, as of August 25th, the benchmark price of EVA in China was 10,900 RMB/ton, unchanged from the previous period. On the one hand, the supply and demand of EVA have improved, but on the other hand, downstream consumers still have resistance to high priced goods, resulting in a narrow consolidation of the EVA market in the short term.

Recently (8.20-8.25), EVA production has dropped to over 77%, and Tianli New High School's EVA equipment has been shut down for maintenance, easing the supply pressure in the EVA market. During the cycle, the price of raw material ethylene increased while the price of vinyl acetate decreased, providing cost support for EVA. As of August 25th, the domestic price of ethylene in Sinopec East China was 7,050 RMB/ton, an increase of 2.17% from 6,900 RMB/ton on August 20th; The price of vinyl acetate in the East China market is 5,275 RMB/ton, a decrease of 0.94% from 5,325 at the beginning of the month.

On the demand side, there has been an increase in short-term demand support for photovoltaics, while the foam side maintains a strong demand follow-up. However, downstream demand for high priced goods still remains resistant. The trading side holds goods cautiously and operates with the market, and the market is temporarily stable and organized.

Overall, raw material prices have fluctuated, and the pressure on the supply side of EVA production has eased. The downstream photovoltaic and foam industries are mainly supported by demand. With the arrival of the traditional peak season, it is expected that the EVA spot market will tentatively rise in the later period.

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